The Winning Bets
Get the latest odds, spreads and betting lines from this week's games, as well as full coverage of the National Football League from USA TODAY. Feb 25, 2020 Placing a $1 bet has the best odds of winning, with only an 11 Percent edge for the house, but also the worst payout. The Joker offers a 36x payout but has a 24 percent edge for the house. Slots: Odds of Winning Around 1 in 49,836,032.
Calculator Use
Convert stated odds to a decimal value of probability and a percentage value of winning and losing. This calculator will convert 'odds for winning' an event or 'odds against winning' an event into percentage chances of both winning and losing.
Gamblers chance – A probability of a win versus losing. Educated guess – a guess based on facts that is more likely to be true. True professional gamblers always bet with a high probability to win versus the probability to lose. And they always base their decision on facts and educated guess, not just on ordinary guess. Like the old saying goes, “seeing is believing”! Witness a real calculated mathematical advantage when using a time tested proven system. See how clients, just like you, are able to obtain the market edge when betting NFL, NCAAF, NBA, NCAAB, NHL, & MLB!
The Winning Butcher Concord Nh
Be careful if you are using sports teams odds or betting odds. If you see that the Patriots super bowl odds are 9/2, that is most likely 'odds against' and should be entered in the calculator with 'Odds are: against winning.'
When playing a lottery or other games of chance be sure you understand the odds or probability that is reported by the game organizer. A 1 in 500 chance of winning, or probability of winning, is entered into this calculator as '1 to 500 Odds are for winning'. You may also see odds reported simply as chance of winning as 500:1. This most likely means '500 to 1 Odds are against winning' which is exactly the same as '1 to 500 Odds are for winning.'
Probability Formulas:
This calculator will convert 'odds of winning' for an event into a probability percentage chance of success.
Odds, are given as (chances for success) : (chances against success) or vice versa.
If odds are stated as an A to B chance of winning then the probability of winning is given as PW = A / (A + B) while the probability of losing is given as PL = B / (A + B).
The Winning Bets Lottery
For example, you win a game if you pull an ace out of a full deck of 52 cards. Pulling any other card you lose. The chance of winning is 4 out of 52, while the chance against winning is 48 out of 52 (52-4=48). Entering A=4 and B=48 into the calculator as 4:48 odds are for winning you get
For 4 to 48 odds for winning;
Probability of:
Winning = (0.0769) or 7.6923%
Losing = (0.9231) or 92.3077%
'Odds for' winning: 1:12 (reduced from 4:48)
'Odds against' winning: 12:1 (reduced from 48:4)